49 Columbus Ave · Buffalo, NY 14220

$250,000

6 bd · 2.0 ba · 2,310 sqft · MultiFamily public records · 12 Days on market

Built 1940 3,815 sqft lot Est $233k · 7% over

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• ARV discount +4.3/15.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 49 Columbus Avenue. Professionally owned and maintained 3/3 Double in Prime South Buffalo Neighborhood. Both units feature spacious floor plans and refreshed kitchens and bathrooms. Experience peace of mind with substantial capital improvements completed in 2025 including high efficiency furnaces, updated electrical service and basement insulation. The architectural roof was a full tear off in 2024 to add to your peace of mind. Maintenance-free vinyl exterior and off street parking with concrete parking pad in rear of property. Full basement with laundry amenities and walk-up attic for additional storage potential. Plenty of upside in this great investment opportunity!

Key facts

• Refreshed kitchens
• Refreshed bathrooms
• Architectural roof

Tags

• REFRESHED KITCHENS
• REFRESHED BATHROOMS
• HIGH EFFICIENCY FURNACES
• UPDATED ELECTRICAL SERVICE
• BASEMENT INSULATION
• ARCHITECTURAL ROOF

Property features AI

Finance

• Other: Two total units with separate gas and electric meters for each unit
• Financial info: Owner pays trash collection and water; Rent includes trash collection and water; Operating expenses may include insurance, maintenance, rent processing and water/sewer
• HOA & community: Information not provided

Exterior

• Parking: Concrete and paved parking available
• Security: Information not provided
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; Cable and high-speed internet available
• Home design: 2-story residential building; Residential 2-unit zoning
• Construction: Spray foam insulation; Vinyl siding; Asphalt architectural shingle roof; Block and stone foundation; Existing (pre-owned) property
• Exterior features: Covered porch; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Information not provided
• Bedrooms: Information not provided
• Flooring: Carpet; Laminate; Luxury vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Thermal windows
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Cap rate 14.4% vs local median 8.0% in Buffalo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#195 in NY, #3,011 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F, employment D-.
• Buffalo City School District (urban): math 41% / reading 40% proficiency, ranked #535 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.6%/yr); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,002/mo this rent would consume 68% of the median local household income ($71k/yr) (locally 602% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $70k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.60% ✓
• Cap rate: 14.41%
• Cash-on-cash: 29.00%
• DSCR: 2.29
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $233,310
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1726 S Park Ave	0.33mi	6/2.0	2,232 (-3%)	6mo	$77,500	$35	74
110 Trowbridge St	0.43mi	6/2.0	2,264 (-2%)	4mo	$180,000	$80	73
51 Olcott Ave	0.06mi	6/2.0	2,592 (+12%)	6mo	$306,000	$118	72
48 Payne Ave	0.46mi	6/2.0	2,308 (-0%)	9mo	$232,500	$101	71
30 Macamley St	0.51mi	6/2.0	2,392 (+4%)	5mo	$284,000	$119	66
389 Cumberland Ave	0.51mi	5/2.0 (-1)	2,328 (+1%)	5mo	$280,000	$120	66
32 Magnolia Ave	0.57mi	6/2.0	2,376 (+3%)	5mo	$225,000	$95	64
35 Kimmel Ave	0.71mi	6/2.0	2,218 (-4%)	2mo	$225,000	$101	58
276 Choate Ave	0.41mi	6/2.0	2,608 (+13%)	4mo	$195,000	$75	56
96 Stevenson St	0.61mi	6/2.0	2,496 (+8%)	6mo	$272,096	$109	53
97 Red Jacket Pkwy	0.57mi	6/2.0	2,588 (+12%)	1mo	$220,000	$85	53
39 Kimmel Ave	0.72mi	6/2.0	2,016 (-13%)	4mo	$152,000	$75	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 2.24×
• Total profit: $86,601
• Equity at exit: $37,276

10-year hold

• IRR: 38.0%
• Equity multiple: 5.31×
• Total profit: $301,650
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $4,002 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$55 /mo · $657/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $1,692

Break-even live

Break-even rent $1,861

Max offer price $250,000

Occupancy floor 53%

Sensitivity live

Price	-10% $1,833	-5% $1,762	+0% $1,692	+5% $1,621	+10% $1,550
Rent	-10% $1,375	-5% $1,534	+0% $1,692	+5% $1,850	+10% $2,008
Rate	-1.0pp $1,818	-0.5pp $1,755	base $1,692	+0.5pp $1,627	+1.0pp $1,561

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,002
Total (3 units)			$4,002

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $250,000 Active 12 DOM
2. 2026-06-18
   status $250,000 Active 11 DOM
3. 2026-06-09
   status $250,000 Pending 11 DOM
4. 2026-06-08
   days on market $250,000 Active 11 DOM
5. 2026-06-07
   days on market $250,000 Active 10 DOM
6. 2026-06-03
   days on market $250,000 Active 6 DOM
7. 2026-06-02
   days on market $250,000 Active 5 DOM
8. 2026-06-01
   days on market $250,000 Active 4 DOM
9. 2026-05-31
   days on market $250,000 Active 3 DOM
10. 2026-05-28
    listed $250,000 Active
11. 2020-12-17
    soldstatus $683,353
12. 2009-08-14
    soldstatus $43,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $657 · $55/mo
• Projected year-2 tax: $2,441 · $203/mo
• Expected delta: +$1,784/yr (+$149/mo · 271.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,024
• − Mortgage interest: −$14,004
• − Property taxes: −$657
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,842
• − Management: −$3,842
• − Depreciation: −$7,273
• Taxable income: $17,156
• Est. tax owed @ 24.0%: −$4,118
• After-tax cash flow: $16,182/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Buffalo City School District
• NCES district ID: 3605850
• Math proficiency: 41% ▲ 11.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $31,665
• Composite: 33.17/100
• National rank: #5544
• State rank: #535 of 590 in NY

Livability — Buffalo

• Score: 77/100
• State rank: #195
• US rank: #3011

Category grades

Amenities A Commute A+ Cost of living A Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buffalo, NY
• County: Erie County · 714,559 people
• City population: 440,021
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+481.4% since first listed

3 events — show timeline

• 2026-05-28 Listed $250,000 WNYREIS
• 2020-12-17 Sold (Public Records) $683,353 Public Records
• 2009-08-14 Sold (Public Records) $43,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $657 · +10.6% YoY. Source: county tax records.